National Fuel Gas Company
Financial ratios & Valuation

Forward Multiples (2025 – 2026)

20252026
Price/Earnings ratio
15.0711.88
Price/Sales ratio
2.932.78
Earnings per Share (EPS)
$5.68$7.20

Historical Multiples (2015 – 2024)

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 TTM Median
Valuation Ratios
Price/Earnings ratio
-11.10-15.7617.0412.2913.29-28.8413.169.949.9871.7771.0713.29
Price/Sales ratio
2.393.153.053.022.382.302.742.572.192.862.932.38
Price/Book Value ratio
2.083.002.832.481.891.812.672.701.601.951.931.89
Price/Cash Flow ratio
4.947.787.067.845.824.816.046.923.845.215.164.81
Price/Free Cash Flow ratio
-25.44619.5620.65162.64-42.83-7.41120.198.09K20.9641.2940.69-42.83
Price/Earnings Growth ratio
0.040.66-0.080.32-0.580.20-0.030.18-0.62-0.85-2.820.20
Dividend Yield
3.10%2.93%2.87%2.97%3.64%4.29%3.40%2.98%3.69%3.30%2.52%4.29%
Profitability Indicator Ratios
Gross Profit Margin
34.34%42.24%40.37%35.88%35.47%36.71%43.59%41.30%39.00%42.04%39.70%35.47%
Operating Profit Margin
-34.70%-28.67%34.99%30.58%30.22%29.84%36.72%37.25%34.73%10.78%17.92%29.84%
Pretax Profit Margin
-39.67%-36.04%28.11%24.11%23.00%-6.79%27.44%31.22%29.50%4.48%4.66%-6.79%
Net Profit Margin
-21.54%-20.03%17.94%24.58%17.96%-8.00%20.86%25.89%21.93%3.98%4.14%-8.00%
Effective Tax Rate
45.68%44.42%36.17%-1.95%21.87%-17.84%23.97%17.08%25.65%11.16%11.16%-17.84%
Return on Assets
-5.64%-5.16%4.64%6.48%4.70%-1.77%4.87%7.16%5.75%0.93%0.93%-1.77%
Return On Equity
-18.73%-19.05%16.63%20.20%14.22%-6.27%20.35%27.21%16.09%2.72%2.49%-6.27%
Return on Capital Employed
-9.74%-7.81%10.13%8.70%8.47%7.09%10.27%13.68%10.10%2.90%4.63%7.09%
Liquidity Ratios
Current Ratio
1.141.351.261.230.850.68N/AN/AN/AN/A0.320.68
Quick Ratio
1.001.121.151.060.660.490.320.300.410.240.240.49
Cash ratio
0.250.420.850.520.040.040.020.020.060.030.030.04
Days of Sales Outstanding
26.0642.0436.7148.3648.2942.2449.9768.7829.7526.7827.8642.24
Days of Inventory outstanding
20.4130.7328.7627.8226.5831.7844.6949.0222.4326.7826.7826.58
Operating Cycle
46.4872.7765.4876.1874.8874.0394.66117.8052.1953.5754.6574.03
Days of Payables Outstanding
56.9447.0148.9957.1944.1650.0263.7450.9041.8953.4553.4544.16
Cash Conversion Cycle
-10.4625.7616.4918.9830.7124.0030.9266.9010.290.121.2024.00
Debt Ratios
Debt Ratio
0.310.370.390.350.330.380.370.340.320.330.330.38
Debt Equity Ratio
1.021.361.391.101.021.341.561.290.900.970.971.34
Long-term Debt to Capitalization
0.500.570.550.520.490.570.590.500.440.430.430.57
Total Debt to Capitalization
0.500.570.580.520.500.570.600.560.470.490.490.57
Interest Coverage Ratio
5.174.394.614.254.794.09N/AN/AN/AN/A2.414.09
Cash Flow to Debt Ratio
0.400.280.280.280.310.270.280.300.460.380.380.31
Company Equity Multiplier
3.313.693.583.113.023.534.173.792.792.922.923.53
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.480.400.430.380.410.470.450.370.560.540.570.41
Free Cash Flow / Operating Cash Flow Ratio
-0.190.010.340.04-0.13-0.650.050.000.180.120.12-0.13
Cash Flow Coverage Ratio
0.400.280.280.280.310.270.280.300.460.380.380.31
Short Term Coverage Ratio
N/AN/A2.28N/A12.5824.694.991.334.301.801.8024.69
Dividend Payout Ratio
-34.45%-46.33%49.05%36.59%48.44%-123.87%44.84%29.70%36.92%237.11%237.11%48.44%